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closing marubozu at the end of an up trend = negativ?

 
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KarlaF



Joined: 27 Oct 2004
Posts: 25

PostPosted: Tue Jul 19, 2005 11:28 am    Post subject: closing marubozu at the end of an up trend = negativ? Reply with quote

if you find a white closing marubozu after a long up trend and with stochastic oversold, is this maybe a warning sign?
normally a closing marubou is a strong signal but with the oversold conditions is this maybe a sign that the last buyers are on board.

any opinions?
karla

chart example would be the german dax today
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candlestick1
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Joined: 27 Jun 2004
Posts: 503
Location: Houston, Texas

PostPosted: Tue Jul 19, 2005 11:45 am    Post subject: short covering Reply with quote

A maruboza at the top, closing that the high of a day in overbought condition usually indicates the panic short covering. If it opens lower the next day, that is usually an indication that the panic short covering was the last of the buying.

A positive day the next day of course reveals the continued uptrend
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KarlaF



Joined: 27 Oct 2004
Posts: 25

PostPosted: Tue Jul 19, 2005 1:10 pm    Post subject: Reply with quote

thanks candlestick,
thats exactly what i've thought <g>
karla
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